Eötvös Loránd University, Budapest
Sovereign immunity, as one of the most traditional rules of international law, can be considered the main barrier to the enforcement of investor-State arbitral awards and, based on the most recent trends, sovereign immunity seems to remain one of the biggest issues in enforcement of arbitral awards rendered against sovereign States.
Symbiosis Law School
Dr. Carlo de Stefano
Roma Tre University
This paper analyses the issue of the proper law of arbitration and jurisdiction agreements, namely the law that is applicable to their substantive validity. In relation to arbitration agreements, Article V(1)(a) of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 10 June 1958 (the “New York Convention”) sets forth a two-pronged rule providing for the application of the law elected by the parties (loi d’autonomie) or, in the absence thereof, the law of the country of the seat of the arbitral proceedings or lex (loci) arbitri. While the law of the seat of arbitration is usually applied in civil law jurisdictions to determine the substantive validity of arbitration clauses, the common law of England has traditionally enforced its preference for the application of the law governing the main or matrix contract (lex contractus), especially where the latter was chosen by the parties.